BUSINESS Chinese enterprises operating in Uzbekistan over 1,650

BUSINESS

Chinese enterprises operating in Uzbekistan over 1,650

Xinhua

22:19, January 13, 2020

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National flags of China and Uzbekistan flutter on a lamppost on the Tiananmen Square in Beijing, China. (File Photo: VCG)

TASHKENT, Jan. 13 (Xinhua) -- The number of Chinese companies operating in Uzbekistan reached 1,652 by the end of last year, second only to Russia in the number of foreign entities in the Central Asian country, according to information published by the Uzbek State Statistic Committee recently.

Chinese companies are involved in the areas of oil and gas exploration, pipeline transport, infrastructure building, telecommunications, textiles, chemicals, and logistics and agriculture, the committee said on Sunday.

China is among Uzbekistan's largest trading partners. In 2018, China-Uzbekistan trade surged 48.4 percent year-on-year, reaching 6.26 billion U.S. dollars.

Statistics show that foreign enterprises operating in Uzbekistan are mostly from Russia, China, Turkey, South Korea and Kazakhstan, while foreign investments are concentrated in industries, foreign trade, construction and agriculture.

According to the Uzbek Economy and Industry Ministry, Uzbekistan's gross domestic product grew by 5.5 percent last year, exceeding the projected rate of 5.4 percent.

Since Shavkat Mirziyoyev was elected president in 2016, Uzbekistan has taken a series of measures to promote economic reforms, including the elimination of foreign exchange controls, the reduction of tax burdens, and preferential treatment for foreign investment. 

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